The Ontario government is providing more than $ 2.2 million to help five local businesses purchase new equipment and expand their operations in Timmins. This investment will help support job creation and economic growth and development in Northern Ontario.
“Supporting local businesses as they grow their businesses helps create jobs and keep the North competitive,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry. “These investments have real and tangible positive effects for local businesses. With this funding, local businesses can thrive, leading to economic prosperity and providing opportunities for Northerners.
The following funding is provided by the Northern Ontario Heritage Fund Corporation (NOHFC):
- $ 1 million for Timmins Mechanical Solutions Inc. – a heavy equipment repair and maintenance services company – to build a second shop
- $ 400,000 for The Bucket Shop Inc. – a heavy equipment manufacturing and refurbishment company – to build a second shop, upgrade the existing shop and purchase equipment
- $ 345,207 for Steelworks Inc. – a structural steel fabrication and installation company – to build an additional workshop and purchase equipment
- $ 321,380 for DeBastos & Sons Ltd. – a large-scale forest construction company – for the purchase of equipment
- $ 159,418 for Diversified Forestry Inc. – a land clearing service company – for the purchase of equipment
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance for projects large and small, rural and urban, that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $ 414 million in 3,934 projects in Northern Ontario, leveraging more than $ 1.4 billion in investments and creating or supporting more than 6,000 jobs.